Description
This is business Analysis project named as Loan Origination System
Indian Institute of Information Technology & Management
Business Requirement Document
Title: Loan Origination System Analyst(s): Shweta Gigras, Arti Omar Revision History:
Date Version Description Author Arti Omar 4-11-2011 1.0 Loan Origination System Shweta Gigras
Purpose:
The proposed product is Loan Origination System. Loan Origination System is a kind of system to which a customer can online apply for a loan, or he can take the loan application forms offline and after submission of loan application, loan information shall be entered into the LOS. LOS is made for accomplishing two main goals. 1 To meet customer requirements ? To get information about loan products ? To fill up the loan application form online. ? To make loan account online
Business Requirement Document
Page 1 of 19
Indian Institute of Information Technology & Management
? To check loan status online ? To get quick response ? To make online transactions from loan account ? To close loan account online
2. To meet Bank requirements ? To provide his service door to door with any cost ? To easily get loan information ? To reduce man power and extra cost ? To serve variety of loan products ? To easily maintain customer loan accounts ? To easily configure customer loan applications ? To easily maintain loan assignment information ? To easily update loan information ? To easily maintain customer records. ? To online credit score checking by sending a request to CIBIL online ? For quick response, fast servicing ? To online risk evaluation ? To update loan application status ? To provide loan feedback to customer in easy way ? To fetch online report of loan assignment and loan status ? To maintain records in one place.
Business Requirement Document
Page 2 of 19
Indian Institute of Information Technology & Management
Assumptions:
This is assumed that a customer has gone through all the terms and conditions before submitting the loan application form.
Solution:
From Customer Point of View:Multiple Loans can be applied online by customers. They can create their loan account. They can choose the product out of multiple products provided by bank. He can track his loan status after his loan application submission by using LAN. Thus, it makes the task easy is to be done by a customer to apply for a loan. From Bank Point of View:-Multiple loan applications can be configured in easy way by bank. Bank can offer multiple products to the customer at their door without taking any extra charge. This is also known as service at door without any charge. Bank can maintain customer records, their loan records. Bank admin can use LOS to configure loan applications according to the loan products and then those applications can be easily assigned to corresponding lenders (Normal/Supervisory).
Business Requirement Document
Page 3 of 19
Indian Institute of Information Technology & Management
Normal/Supervisory lenders can use LOS to fetch assigned application documents and they can directly contact with corresponding customer regarding more information and for Information validation. LOS can also be used to send request to CIBIL for credit score checking. CIBIL response for credit score checking will be saved in LOS data base and that result will be used by lenders for Information validation. And all results shall be saved in LOS data base. Underwriter will use all saved results and customers’ documents for risk evaluation. All the loan calculations will be done by LOS. And time to time loan application status will be updated. Bank Admin can use LOS for fetching loan applications report, loan assignment report and other reports. In short view Loan Origination System is the system which reduces manual work, reduces cost incurred by a bank in loan processing and it reduces cost at customer end to apply for a loan, to get about the loan processing information, variety of loans and their market interest rates and all that.
Business Requirement Document
Page 4 of 19
Indian Institute of Information Technology & Management
Requirements:
S.No. 1. Requirement Customer Authorization Description Customer should be authorized to fill the form, for that he is needed to be registered 2. Form visibility For filling up the form, it should be correctly visible to user 3. Fill correct form For correct information customer need to fill correct form as per the instruction are given 4. Appropriate classify loan products For complete and full information in application form bank should classify its loan products with enough information. 5. To enter loan application online A customer/ Data entry operator need to feed information in the system 6. Loan configuration Bank admin need to configure loan applications according to loan products provided 7. Loan assignment For loan processing loan has to be assigned for information validation 8. Loan Verification Before loan approval, information need to be verified in loan processing 9. Credit score checking For complete the activity of loan verification credit score checking Functional requirement Functional Requirement Functional Requirement Functional Requirement Functional Requirement Non-functional Requirement Non-functional Requirement Non-functional requirement Type of Requirement Non-functional Requirement
Business Requirement Document
Page 5 of 19
Indian Institute of Information Technology & Management
has to be completed 10. Risk evaluation Bank need to identify risk associated with the applied loan application 11. Issued draft When loan processing is done accordingly loan status will be updated, if loan is approved then draft will be issued and loan application need to be closed 12. Loan Tracking Customer need to track out loan status of the submission of loan application to get the information about loan processing 13. Fetching Report It is required to get the loan assignment information Functional requirement Functional requirement Functional requirement Functional requirement
Business Requirement Document
Page 6 of 19
Indian Institute of Information Technology & Management
Work Flow:
The Loan Origination System’s aim is to help customer effectively apply for loan application online as well as to help bank to make loan processing online to make processing fast and efficiently. This work flow covers the attachment for different scenarios:
1 When Opening the bank site 2 Selecting loan category 3 Viewing loan applying page 4 Online form submission page
When Opening the Bank Site
Login “APNA BANK “ site (http://www.apnabank.com). Window will be opened with welcome notes and with some information about the bank. ? First opened page will display the category of loan products offered by APNA bank. ? From the upper tool bar customer can get the information about bank, about loan, contacts and so on. ? For getting more details about a particular product category customer has to click on corresponding category. ? For Example: A customer who is interested to apply for home loan. He will click on home loan screen and accordingly next page will be opened.
Business Requirement Document
Page 7 of 19
Indian Institute of Information Technology & Management
User Rules: ? On the first screen customer will see loan categories and other information. ? He will find next button to jump to next page. ? He will fetch the other information from tool bar.
Business Rules:
From the home page customer will get the information about loans and bank will get a visitor.
Validations:
? All loan information should be valid, presented on the screen. ? Update all information regarding loan products and services. ? Step by step a customer should reach up to application form.
Business Requirement Document
Page 8 of 19
Indian Institute of Information Technology & Management
Business Requirement Document
Page 9 of 19
Indian Institute of Information Technology & Management
Selecting loan Category:
? In sequentially opened page he will get information about Home Loan and he will trace variety of home loan products like Product A, Product B, Product C, Product D. ? He can see information about product after clicking on that icon. The type of interest rate information and other offers are given by bank on that product and what are the important documents are needed to apply for that product. ? Approximate time to get it approved. ? With the loan information customer can see home loan updates and news. ? Customer can ask questions under frequently ask questions window. ? Before applying for loan customer need to register to create a loan account. ? He can create a loan account by clicking on Create Home loan Account ? Customer needs to click on Apply for Home loan, if he wants to apply for any home loan product.
User Rules:
? Next Window will be open for applying home loan. ? From Home Loan form he will see the product details of particular category. ? Home loan updates
Business Requirement Document
Page 10 of 19
Indian Institute of Information Technology & Management
? Frequently ask questions ? Sign in (For registration) ? Create Home loan Account if he wants to apply for home loan. ? Sign In rules: ? Customer needs to fill valid user name and valid password. ? Password should be combination of alphanumeric values. ? He can use next and back icons to jump on other pages.
Business Rules:
? From the next page customer will get the link of other loan products and get the way to get loan application form. ? For applying for loan he has to make himself registered.
Validations:
? Keep customers login details. ? Valid user name and Password. ? Password should contain maximum 6 characters.
Business Requirement Document
Page 11 of 19
Indian Institute of Information Technology & Management
Business Requirement Document
Page 12 of 19
Indian Institute of Information Technology & Management
Viewing Loan Applying Page:
? After Clicking on applying for home loan application, wizard will get opened for filling up loan application form. ? Now for getting loan form, customer needs to click on Application Form.
User Rules:
? Before that customer need to get registered. ? He need to read all terms and conditions.
Potential Error Messages:
? Pop-up error window if customer did not register.
Business Requirement Document
Page 13 of 19
Indian Institute of Information Technology & Management
Business Requirement Document
Page 14 of 19
Indian Institute of Information Technology & Management
Online Loan Application Form Submission:
? After clicking on application form, a form will be uploaded. ? Firstly customer need to go through all the details has been asked in the application form. ? Then after completing application form, He will either submit form or Reset form for updating fields. ? Thank you page displayed immediately after submitting your loan application form.
User Rules:
? While filling online form customer needs to follow certain rules. ? Before filling up form he needs to go through all terms and conditions about particular product. ? Before start filling the form, he should go through the form at a glance. ? Each field in the form has its own importance, so he should ensure about filled information. ? After completing form either he can submit the form or reset form for updating any field.
Business Requirement Document
Page 15 of 19
Indian Institute of Information Technology & Management
Business Rules:
? No missed information in the form will be accepted. ? LAN will be generated after scanning all the information attached with the form. ? Display thank you screen after form submission and asked for other services. ? Update loan status so that customer can track loan status after login. ? Ask to re-enter password if customer has missed his password.
Validations:
? While filling application form show correct check box if field is filled up by correct information ? Name field should be entered by any numeric value. ? Pop-up error message if it is so. ? Date- of-birth field should be filled by validate numerical value given in combo box. ? Contact number field should not by entered by any alphabetical value. ? Correct Product should be chosen. ? Register before filling form.
Business Requirement Document
Page 16 of 19
Indian Institute of Information Technology & Management
Potential Error Messages:
? If in name field customer use any numerical value, pop-up error window. ? If in date-of-birth field customer does not use valid date, pop-up error window. ? Alphabetical values in contact number field, pop-up error window. ? Incorrect registration ID, pop-up error window ? If any information is missed, pop-up error window.
Business Requirement Document
Page 17 of 19
Indian Institute of Information Technology & Management
.
Business Requirement Document
Page 18 of 19
Indian Institute of Information Technology & Management
Potential Considerations: TBD
Business Requirement Document
Page 19 of 19
doc_978762612.docx
This is business Analysis project named as Loan Origination System
Indian Institute of Information Technology & Management
Business Requirement Document
Title: Loan Origination System Analyst(s): Shweta Gigras, Arti Omar Revision History:
Date Version Description Author Arti Omar 4-11-2011 1.0 Loan Origination System Shweta Gigras
Purpose:
The proposed product is Loan Origination System. Loan Origination System is a kind of system to which a customer can online apply for a loan, or he can take the loan application forms offline and after submission of loan application, loan information shall be entered into the LOS. LOS is made for accomplishing two main goals. 1 To meet customer requirements ? To get information about loan products ? To fill up the loan application form online. ? To make loan account online
Business Requirement Document
Page 1 of 19
Indian Institute of Information Technology & Management
? To check loan status online ? To get quick response ? To make online transactions from loan account ? To close loan account online
2. To meet Bank requirements ? To provide his service door to door with any cost ? To easily get loan information ? To reduce man power and extra cost ? To serve variety of loan products ? To easily maintain customer loan accounts ? To easily configure customer loan applications ? To easily maintain loan assignment information ? To easily update loan information ? To easily maintain customer records. ? To online credit score checking by sending a request to CIBIL online ? For quick response, fast servicing ? To online risk evaluation ? To update loan application status ? To provide loan feedback to customer in easy way ? To fetch online report of loan assignment and loan status ? To maintain records in one place.
Business Requirement Document
Page 2 of 19
Indian Institute of Information Technology & Management
Assumptions:
This is assumed that a customer has gone through all the terms and conditions before submitting the loan application form.
Solution:
From Customer Point of View:Multiple Loans can be applied online by customers. They can create their loan account. They can choose the product out of multiple products provided by bank. He can track his loan status after his loan application submission by using LAN. Thus, it makes the task easy is to be done by a customer to apply for a loan. From Bank Point of View:-Multiple loan applications can be configured in easy way by bank. Bank can offer multiple products to the customer at their door without taking any extra charge. This is also known as service at door without any charge. Bank can maintain customer records, their loan records. Bank admin can use LOS to configure loan applications according to the loan products and then those applications can be easily assigned to corresponding lenders (Normal/Supervisory).
Business Requirement Document
Page 3 of 19
Indian Institute of Information Technology & Management
Normal/Supervisory lenders can use LOS to fetch assigned application documents and they can directly contact with corresponding customer regarding more information and for Information validation. LOS can also be used to send request to CIBIL for credit score checking. CIBIL response for credit score checking will be saved in LOS data base and that result will be used by lenders for Information validation. And all results shall be saved in LOS data base. Underwriter will use all saved results and customers’ documents for risk evaluation. All the loan calculations will be done by LOS. And time to time loan application status will be updated. Bank Admin can use LOS for fetching loan applications report, loan assignment report and other reports. In short view Loan Origination System is the system which reduces manual work, reduces cost incurred by a bank in loan processing and it reduces cost at customer end to apply for a loan, to get about the loan processing information, variety of loans and their market interest rates and all that.
Business Requirement Document
Page 4 of 19
Indian Institute of Information Technology & Management
Requirements:
S.No. 1. Requirement Customer Authorization Description Customer should be authorized to fill the form, for that he is needed to be registered 2. Form visibility For filling up the form, it should be correctly visible to user 3. Fill correct form For correct information customer need to fill correct form as per the instruction are given 4. Appropriate classify loan products For complete and full information in application form bank should classify its loan products with enough information. 5. To enter loan application online A customer/ Data entry operator need to feed information in the system 6. Loan configuration Bank admin need to configure loan applications according to loan products provided 7. Loan assignment For loan processing loan has to be assigned for information validation 8. Loan Verification Before loan approval, information need to be verified in loan processing 9. Credit score checking For complete the activity of loan verification credit score checking Functional requirement Functional Requirement Functional Requirement Functional Requirement Functional Requirement Non-functional Requirement Non-functional Requirement Non-functional requirement Type of Requirement Non-functional Requirement
Business Requirement Document
Page 5 of 19
Indian Institute of Information Technology & Management
has to be completed 10. Risk evaluation Bank need to identify risk associated with the applied loan application 11. Issued draft When loan processing is done accordingly loan status will be updated, if loan is approved then draft will be issued and loan application need to be closed 12. Loan Tracking Customer need to track out loan status of the submission of loan application to get the information about loan processing 13. Fetching Report It is required to get the loan assignment information Functional requirement Functional requirement Functional requirement Functional requirement
Business Requirement Document
Page 6 of 19
Indian Institute of Information Technology & Management
Work Flow:
The Loan Origination System’s aim is to help customer effectively apply for loan application online as well as to help bank to make loan processing online to make processing fast and efficiently. This work flow covers the attachment for different scenarios:
1 When Opening the bank site 2 Selecting loan category 3 Viewing loan applying page 4 Online form submission page
When Opening the Bank Site
Login “APNA BANK “ site (http://www.apnabank.com). Window will be opened with welcome notes and with some information about the bank. ? First opened page will display the category of loan products offered by APNA bank. ? From the upper tool bar customer can get the information about bank, about loan, contacts and so on. ? For getting more details about a particular product category customer has to click on corresponding category. ? For Example: A customer who is interested to apply for home loan. He will click on home loan screen and accordingly next page will be opened.
Business Requirement Document
Page 7 of 19
Indian Institute of Information Technology & Management
User Rules: ? On the first screen customer will see loan categories and other information. ? He will find next button to jump to next page. ? He will fetch the other information from tool bar.
Business Rules:
From the home page customer will get the information about loans and bank will get a visitor.
Validations:
? All loan information should be valid, presented on the screen. ? Update all information regarding loan products and services. ? Step by step a customer should reach up to application form.
Business Requirement Document
Page 8 of 19
Indian Institute of Information Technology & Management
Business Requirement Document
Page 9 of 19
Indian Institute of Information Technology & Management
Selecting loan Category:
? In sequentially opened page he will get information about Home Loan and he will trace variety of home loan products like Product A, Product B, Product C, Product D. ? He can see information about product after clicking on that icon. The type of interest rate information and other offers are given by bank on that product and what are the important documents are needed to apply for that product. ? Approximate time to get it approved. ? With the loan information customer can see home loan updates and news. ? Customer can ask questions under frequently ask questions window. ? Before applying for loan customer need to register to create a loan account. ? He can create a loan account by clicking on Create Home loan Account ? Customer needs to click on Apply for Home loan, if he wants to apply for any home loan product.
User Rules:
? Next Window will be open for applying home loan. ? From Home Loan form he will see the product details of particular category. ? Home loan updates
Business Requirement Document
Page 10 of 19
Indian Institute of Information Technology & Management
? Frequently ask questions ? Sign in (For registration) ? Create Home loan Account if he wants to apply for home loan. ? Sign In rules: ? Customer needs to fill valid user name and valid password. ? Password should be combination of alphanumeric values. ? He can use next and back icons to jump on other pages.
Business Rules:
? From the next page customer will get the link of other loan products and get the way to get loan application form. ? For applying for loan he has to make himself registered.
Validations:
? Keep customers login details. ? Valid user name and Password. ? Password should contain maximum 6 characters.
Business Requirement Document
Page 11 of 19
Indian Institute of Information Technology & Management
Business Requirement Document
Page 12 of 19
Indian Institute of Information Technology & Management
Viewing Loan Applying Page:
? After Clicking on applying for home loan application, wizard will get opened for filling up loan application form. ? Now for getting loan form, customer needs to click on Application Form.
User Rules:
? Before that customer need to get registered. ? He need to read all terms and conditions.
Potential Error Messages:
? Pop-up error window if customer did not register.
Business Requirement Document
Page 13 of 19
Indian Institute of Information Technology & Management
Business Requirement Document
Page 14 of 19
Indian Institute of Information Technology & Management
Online Loan Application Form Submission:
? After clicking on application form, a form will be uploaded. ? Firstly customer need to go through all the details has been asked in the application form. ? Then after completing application form, He will either submit form or Reset form for updating fields. ? Thank you page displayed immediately after submitting your loan application form.
User Rules:
? While filling online form customer needs to follow certain rules. ? Before filling up form he needs to go through all terms and conditions about particular product. ? Before start filling the form, he should go through the form at a glance. ? Each field in the form has its own importance, so he should ensure about filled information. ? After completing form either he can submit the form or reset form for updating any field.
Business Requirement Document
Page 15 of 19
Indian Institute of Information Technology & Management
Business Rules:
? No missed information in the form will be accepted. ? LAN will be generated after scanning all the information attached with the form. ? Display thank you screen after form submission and asked for other services. ? Update loan status so that customer can track loan status after login. ? Ask to re-enter password if customer has missed his password.
Validations:
? While filling application form show correct check box if field is filled up by correct information ? Name field should be entered by any numeric value. ? Pop-up error message if it is so. ? Date- of-birth field should be filled by validate numerical value given in combo box. ? Contact number field should not by entered by any alphabetical value. ? Correct Product should be chosen. ? Register before filling form.
Business Requirement Document
Page 16 of 19
Indian Institute of Information Technology & Management
Potential Error Messages:
? If in name field customer use any numerical value, pop-up error window. ? If in date-of-birth field customer does not use valid date, pop-up error window. ? Alphabetical values in contact number field, pop-up error window. ? Incorrect registration ID, pop-up error window ? If any information is missed, pop-up error window.
Business Requirement Document
Page 17 of 19
Indian Institute of Information Technology & Management
.
Business Requirement Document
Page 18 of 19
Indian Institute of Information Technology & Management
Potential Considerations: TBD
Business Requirement Document
Page 19 of 19
doc_978762612.docx